Intevac Sees Net Loss Despite Higher Photonics Profits

Photonics.comJul 2014
SANTA CLARA, Calif., July 29, 2014 — Intevac Inc. said its photonics segment had record revenue and profits in the second quarter, though the company as a whole reported a net loss of $5 million.

That narrows the gap from the second quarter last year, when Intevac reported a net loss of $6.4 million. Total revenue in the second quarter of 2014 was $14.7 million, including $11 million of photonics revenues from R&D contracts and sales. Second-quarter 2013 revenue was $17 million, including $7.8 million in photonics revenue.

The company recently rolled out a new military night-vision camera system and is preparing to ship its first protective coating systems for mobile device touch screens and solar panels, said CEO Wendell Blonigan.